Bitcoin ETFs shed $146M in a single day as Ethereum ETFs eke out a $3.57M gain.

U.S. spot Bitcoin ETFs recorded a net outflow of $146 million on May 8, according to SoSoValue data, marking a notable single-session reversal in a product category that had seen stretches of sustained inflows in recent weeks. The divergence with Ethereum was stark: U.S. spot Ethereum ETFs posted a modest net inflow of $3.57 million on the same day.

The gap between the two reads as a rotation signal worth watching. Bitcoin ETF outflows of this size tend to reflect either short-term profit-taking by institutional holders or a broader risk-off posture — neither of which is a structural break, but both of which bear monitoring if the outflow pattern extends into the following sessions. The Ethereum side, while small in absolute terms, held positive, suggesting ETH-focused demand has not followed BTC into retreat.